BEIRUT

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Lebanon's consumer prices edge back up

Shoppers walk past a store sale sign in Hamra, Tuesday, Jan. 8, 2013. (The Daily Star/Mahmoud Kheir)

BEIRUT: Lebanon’s Consumer Price Index edged back up in July, after dropping the previous three months.

July’s report, published Thursday by the Central Administration of Statistics, showed a 0.2 percent increase in consumer prices compared with the previous month and 2.7 percent increase compared with July 2013.

In June, the CPI had dropped by a 0.7 percent compared with the previous month, the third month in a row the indicator had fallen. Analysts said that the declining consumer prices were being driven by a series of price drops in Lebanon’s telecoms sector.

In July, the communications component registered only a 3.6 percent decline from the previous month, compared with the 20.9 percent drop between May and June.

In July, the health care component saw the biggest increase, at 3.5 percent, while clothing and footwear had the largest drop, at 4.4 percent.

By region, the subsectors showed mixed results. Beirut was the only region to record a decrease in prices, with the index falling 0.2 percent in July compared with the previous month. Nabatieh’s CPI saw the biggest increase, at 1.6 percent.

 

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